A Battle Over the Costs of Global Warming

A Battle Over the Costs of Global Warming -...

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A Battle Over the Costs of Global Warming  SIGN IN TO E-MAIL OR SAVE THIS PRINT REPRINTS SHARE By DAVID LEONHARDT Published: February 21, 2007 New Haven   Video of the Debate The Stern Review A Summary of the Review William Nordhaus's Response Martin Weitzman's Response Roster of Debate Participants Related Reader Responses  (February 21, 2007)  There is an unofficial code of conduct that dictates how intellectuals should  behave when they’re jousting with each other, a sort of Geneva Convention  for the ivory tower. Before they attack somebody else’s work, they first need to praise their  opponent. A typical way to do so is to describe another professor as a  distinguished scholar who has made an important contribution to the  research literature. When you hear that, you can be pretty sure things are  about to get nasty. The rest of us can usually ignore these spats, but once in a while there is an  academic fight that really matters. The economics profession is engaged in 
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one of those right now and, as luck would have it, it’s even more  entertaining than most. Last week, Sir Nicholas Stern, a top adviser to the British government, came  to the United States to talk about  climate change . In October, a commission  he led released  a 700-page report  calling for “urgent action” against global  warming to prevent economic damage that could rival that of the world  wars and the Great Depression. Given its source and its tone, the Stern  Review has nudged people to talk more seriously about climate change. In the minds of a lot of American economists, however, the review is a badly  flawed piece of work. These economists don’t doubt that earth is getting  hotter, that human activity is the cause and that the results could be bad.  But they think that Sir Nicholas may have exaggerated the likely speed of  warming, among other things, and overstated the case for big, quick action. 
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This note was uploaded on 04/05/2012 for the course ECP 3302 taught by Professor Staff during the Fall '11 term at Florida State College.

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A Battle Over the Costs of Global Warming -...

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